A later living developer and operator backed by real estate funds managed by ActivumSG Capital Management has launched, with the first two villages planned for the West Midlands and Hampshire.
Opus will offer independent and assisted living, as well as an integrated care home within each of its villages. Edgbaston Place in Edgbaston, Birmingham, and Stoneham Park, near Southampton, will collectively deliver 290 apartments and 90 care beds. Both villages, which have a projected gross development value (GDV) of £220m, are scheduled for late 2024 to early 2025.
Opus, which has secured additional sites for its development pipeline, is led by Paddy Brice and Paul Jackson, who have more than 15 years’ experience of working together within the sector, primarily at Richmond Villages, where they led the restructuring and subsequent sale in 2013.
‘Our vision is to bring innovation and a fresh approach to later living. We are creating communities for each stage of later life, so when residents need more support, they can stay in the Opus village community with the right level of assistance and care on site,’ said Brice, who is managing director.
‘ActivumSG will enable Opus to play a leading role in transforming the approach to later living by providing a full continuum of care in a quality setting with exceptional amenities.’
Edgbaston Place will provide 111 independent living village apartments, 47 assisted living village suites and a 50-bed care home. Stoneham Park will consist of 91 independent living village apartments, 41 assisted living village suites and a 40-bed care home.
Facilities in both villages will include restaurant and private dining, café and bar, library, activity studio, and a spa with a pool, jacuzzi, salt room, gym, exercise studio, hair and beauty salon. They will each have a village manager and head of departments to oversee teams delivering domiciliary care packages; hospitality; nursing, dementia and residential care; activities and events; estate management; and transport.
James de Lusignan, ActivumSG UK Advisors director and head of the UK, said: ‘Opus is offering something new, providing first-class homes to older people, where there are currently few options available. We have an excellent senior team with unrivalled experience in the sector, which has enabled us to move forward with a strong pipeline in place and a clear ambition to be the country’s leading later living developer and operator.’
ActivumSG Capital Management Ltd is a Jersey-based investment manager focused on property and real estate-related businesses across Europe.
It established a fund for the first of its schemes in February and plans to develop and operate villages with a GDV of more than £1bn.